Price Bailey is very proud to announce we are the partner firm for East Anglia for a new ground-breaking accountancy led commercial dispute resolution service, called Escalate.
We have been selected and are licensed to operate Escalate within East Anglia, a dispute resolution service created to resolve commercial disputes in a smarter way, prioritising cash flow by focussing on a quick settlement, removing upfront costs and minimising risk.
The commercial dispute market has been broken for a long time, with high upfront costs, considerable financial risks and a slow process being the primary barriers preventing ‘access to justice’ for claimants and as a result, many SMEs reluctantly write off what they’re owed. For example, a business that has suffered a £150,000 loss due to a dispute might need to pay a similar sum to recover that amount. Successful claims may only recover 50-60% after costs.
Escalate’s two-stage process begins with negotiating an early settlement using a Price Bailey licenced corporate recovery specialist. Using our experience in rapidly recovering assets, our role is to negotiate on behalf of the claimant, without the need for litigation. If the defendant is unwilling to settle within three months, solicitors will begin preparing for litigation, with funding and fully insured all the way to the High Court; without any funding requirement from the claimant.
The Escalate process covers the full range of commercial dispute cases – including bad debt, contractual, and negligence and can tackle cases going back a number of years. Importantly, it can tackle cases going back up to three years, enabling businesses to start to recover monies that were previously written off and providing an unexpected cash flow injection.
Chris Clay, one of the architects of the Escalate process, said: “Many businesses don’t pursue commercial disputes because of high upfront costs, long delays and considerable uncertainty – but there is now another way. Escalate was created from a desire to improve the traditional dispute resolution process from the SME client’s perspective.”